Adcore Inc. reports developments in AI-powered marketing technology, including its Marketing Cloud platform for managing and automating e-commerce advertising and analyzing advertising-budget performance. Company news commonly covers quarterly and annual results, conference calls, international revenue trends across APAC, EMEA and Australia, and new client mandates for performance marketing, media mix modeling and campaign management.
Updates also address Adcore's product expansion, including Proposaly, Feeditor App, AI Creative Studio, SEO services, upper-funnel campaigns and affiliate-driven marketing. Recurring announcements describe platform automation, AI agents, partner certifications with major advertising channels, and the company's operations across Israel, Canada, Australia, Hong Kong and China.
Adcore Inc. announced an agreement to purchase and cancel 2,171,400 common shares, equating to 3.4% of its outstanding shares, from a former executive at a price of $0.20 per share. This transaction is classified as an exempt issuer bid. The board believes the share price does not reflect the company's true value, positioning this buyback as beneficial for shareholders. Post-cancellation, Adcore will have 61,613,021 shares outstanding. The company continues to enhance e-commerce through its advertising management and automation platform.
Adcore Inc. (TSX:ADCO) has launched a new blog aimed at enhancing its digital marketing services. This blog targets marketing professionals, providing valuable insights into PPC, e-commerce, and advertising technologies. CEO Omri Brill emphasized the importance of high-quality content in building trust and engagement with clients. The company is already seeing a significant increase in subscribers, indicating the relevance of the content. Adcore aims to further leverage the blog to support its growing customer base and enhance their understanding of digital marketing.
Adcore Inc. has secured a contract with Candlefox, an Australian education marketing agency, to manage up to CAD $12 million in annual paid digital marketing activities. This partnership aims to enhance student enrollment for various educational institutions across Australia, New Zealand, and the UK. Adcore's CEO, Omri Brill, expressed enthusiasm for leveraging their expertise to meet Candlefox's needs effectively. Given Adcore's credentials as a certified Google Premier Partner, this collaboration positions them to potentially optimize marketing strategies and return on investment for clients.
Adcore Inc. announced that the Toronto Stock Exchange has approved its normal course issuer bid (NCIB). The company may repurchase up to 3,188,475 shares, approximately 5% of its outstanding shares, within a year, starting May 18, 2022. Daily purchases are capped at 13,593 shares, roughly 25% of average trading volume. Any shares bought will be canceled. Although Adcore intends to buy shares, it does not guarantee completion. The NCIB may employ an automatic purchase plan during blackout periods.
Adcore Inc. (TSX:ADCO, OTCQX:ADCOF) announced plans for a Normal Course Issuer Bid (NCIB) to purchase up to 3,188,475 common shares. The company believes the current market price does not fully reflect the shares' value, making this purchase an attractive use of available funds. The NCIB, subject to TSX acceptance, is set to commence on May 18, 2022, and will terminate one year later or upon purchase of the maximum shares. Share repurchases will occur at prevailing market prices, with all shares acquired canceled.
Adcore reported its Q1 2022 financial results, revealing total revenue of CAD$4.7 million, down from CAD$8.6 million in Q1 2021. Despite a 2% increase in gross profit to CAD$2.0 million, the gross margin rose significantly to 43%, up from 23% a year earlier. The company faced an operating loss of CAD$446 thousand, compared to a profit of CAD$36 thousand last year, while Adjusted EBITDA decreased 85% to CAD$85 thousand. Adcore secured 14 new clients globally and extended its contract with the Israeli Government for up to CAD$25 million annually, enhancing its partnerships with Microsoft and Google.
Adcore Inc. (Ticker: ADCOF) will release its financial results for Q1 2022 on May 10, 2022, after market close. A conference call is scheduled for May 11, 2022, at 10:00 a.m. ET, focusing on the results and addressing shareholder questions. The company is known for its e-commerce advertising management platform and is recognized as a certified Google Premier Partner and Elite Tier Microsoft Partner. Established in 2006, Adcore operates from multiple global locations, providing innovative digital marketing solutions.
Adcore Inc. has announced a new contract with Best & Less to manage its search engine marketing efforts. This agreement marks a significant collaboration as Best & Less seeks to enhance its ecommerce capabilities post-COVID-19. Adcore aims to leverage its advanced digital marketing solutions to support the Australian retailer's growth objectives. CEO Omri Brill expressed enthusiasm for the partnership, while Best & Less management highlighted the need for robust performance marketing strategies for their omni-channel growth. This partnership underscores Adcore’s established reputation in the Australian ecommerce market.
Adcore reported a 57% increase in total revenue for the year ending December 31, 2021, reaching CAD$35.7 million, up from CAD$22.8 million in 2020. Adjusted EBITDA rose to CAD$3.9 million, a 17% increase. The company improved its cash position, with total working capital growing by 67% to CAD$13.0 million. In the fourth quarter, revenue totaled CAD$9.7 million, with a notable increase in operating profit of 356% year-over-year. Adcore launched the Amphy.com learning platform and expanded into the U.S. market, setting a foundation for sustainable growth.
Adcore Inc. (TSX: ADCO) has scheduled its fourth quarter and full year 2021 financial results release for March 14, 2022, followed by a video conference call on March 15, 2022, at 10:00 a.m. ET. The conference will discuss key results and answer shareholder questions. Adcore is recognized for its e-commerce advertising management platform and is a certified partner of major digital platforms. This event is significant for investors looking to understand the company's financial performance as it prepares to share critical earnings data.